Last reviewed 10-31-2026Short-Sale.com Editorialglossary

Chattel Loan

HUD Housing Counselors Glossary

Updated 10-31-2026

Chattel Loan

Chattel loans are loans that are secured by a movable piece of personal property. Manufactured homes on leased land are typically financed with chattel loans. The manufactured home continues to secure the loan even if it is moved to a new location. Interest rates for chattel loans tend to be higher than interest rates for mortgages.

HUD Housing Counselors Glossary

pp. 3–4

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